Summary of Conference Call on AI PCB Drill Market Industry Overview - The conference call discusses the AI PCB drill market, focusing on the increasing demand for high-performance drill bits due to advancements in server architecture and materials used in PCB manufacturing [1][3][4]. Key Points and Arguments - **Increased Thickness of PCBs**: The thickness of PCBs has increased from 3 mm in the GB200 period to 4.5-5 mm in the GB300 period, with future designs (Rubin architecture) expected to exceed 6 mm, and orthogonal backplanes potentially reaching 8 mm [1][3]. - **Drill Bit Consumption**: The increase in PCB thickness necessitates the use of multiple drill bits for single-hole processing, significantly raising the consumption and cost of drill bits. For example, a single server cabinet may consume approximately 7,000 high-performance drill bits [1][3][4]. - **Material Impact on Drill Bit Lifespan**: The transition to harder materials (e.g., from 马 6 to 马 9) drastically reduces drill bit lifespan, with a single bit capable of drilling 2,000 holes in 马 6 material but only 100-200 holes in 马 9 material [3][4]. - **Market Growth Projections**: By 2027, the AI drill bit market is projected to reach between 13 billion to 15 billion RMB, representing a more than threefold increase from the previous global market size of 5-6 billion RMB [1][9]. Additional Important Insights - **Key Suppliers**: Major suppliers in the AI drill bit market include 鼎泰高科, 金洲精工, 台湾金典, and 日本佑能, with a focus on high-quality products due to stringent requirements from companies like NVIDIA [10]. - **Profitability Expectations**: 鼎泰高科 and 金洲精工 are expected to capture over 40% of the market share by 2027, translating to revenues of approximately 6 billion RMB and a net profit of around 2 billion RMB, with potential market valuations reaching 800 billion RMB [11][12]. - **Expansion Plans**: Companies are actively expanding production capabilities, with 金洲精工 aiming for a monthly capacity of at least 1.3 million drill bits by the end of 2026 [13]. - **Technological Advancements**: The use of ultrafast laser drilling technology is highlighted as crucial for processing advanced materials and achieving high-quality results in small aperture applications [14][15]. - **Market Beneficiaries**: 鼎泰, 中钨, and 大族数控 are identified as key beneficiaries of the AI PCB market, expected to thrive as demand for AI-related PCBs grows [16]. This summary encapsulates the critical insights from the conference call, emphasizing the evolving landscape of the AI PCB drill market and the implications for key players within the industry.

3. 期股联动, 当有色板块的紫金矿业(601899),中国铝业(601600), 锡业股份 (000960),中钨高新(000657)等等股票纷纷大涨,创十年新高后,煤炭极块还 在地板,难道是卖方喊崇声音不够大,还是买方组合里面真的就不需要那零点几分 之几?若不见中证煤炭板块(39998)昨日大涨3.73%,君不懂股票板块要轮动,期 股联动的风终于吹到了煤焦期货。 4. 基本邮+期货盘由,秦皇岛动力煤库存自25年12月22日以来,从737万吨持续去库 至1月7日的525万吨,CCTD环渤海5500大卡动力煤指数也在跌至680元/吨得到支撑。 进口蒙煤一李度长协66-69美元左右,折合现货800-830元/吨,折合期货盘面920- 950元/吨,再悲观一些接货折价处理-100元,JM期货真的就要这么早触碰去年6月 700元/吨的政策反内卷前低点?1月3日JM期货增仓5.3万张,收盘仅仅下跌34.5元 已经说明了做多交易的阻力最小。期货博弈就是博赔率,向下100但向上300元。 5. 不用纠结于政策的传闻,25年7月的查超产政策不妨碍25年原煤产量会创新高至48 亿吨,26年的陕西保供矿井产能核销政策与山西省煤 ...

个股方面，87只个股获融资净买入额超1亿元。北方稀土获融资净买入额居首，净买入8.38亿元；融资净买入金额居前的还有航天发展、紫金矿业、香农芯 创、中国铝业、招商银行、澜起科技、信维通信、珂玛科技、中钨高新等。 | 序号 | | | | | | --- | --- | --- | --- | --- | | | 证券代码 ◆ | 证券简称 = | 交易日期÷ | 融资净买入额(万元) ◆ | | 1 | 600111.SH | 北方稀土 | 2026-01-07 | 83,805.36 | | 2 | 000547.SZ | 航天发展 | 2026-01-07 | 77.192.41 | | 3 | 601899.SH | 蒙美矿业 | 2026-01-07 | 54,104.59 | | ব | 300475.SZ | 香农芯创 | 2026-01-07 | 53,010.37 | | 5 | 601600.SH | 中国铝业 | 2026-01-07 | 50,680.43 | | 6 | 600036.SH | 招商银行 | 2026-01-07 | 43,869.23 | | 7 | 688008.S ...

Group 1 - As of January 7, the margin trading balance in A-shares reached 26,047.42 billion yuan, an increase of 248.42 billion yuan from the previous trading day, accounting for 2.55% of the A-share circulating market value [1] - The margin trading transaction volume on the same day was 3,312.32 billion yuan, which is an increase of 23.26 billion yuan from the previous trading day, representing 11.49% of the total A-share transaction volume [1] Group 2 - Among the 31 primary industries in Shenwan, 27 industries experienced net financing inflows, with the electronics industry leading at a net inflow of 6.393 billion yuan [3] - Other industries with significant net financing inflows include non-ferrous metals, defense and military industry, pharmaceutical and biological, machinery equipment, and communication [3] Group 3 - A total of 87 individual stocks had net financing inflows exceeding 100 million yuan, with Northern Rare Earth leading at a net inflow of 838.54 million yuan [3][4] - Other notable stocks with high net financing inflows include Aerospace Development, Zijin Mining, Shannon Chip Creation, China Aluminum, China Merchants Bank, Lanke Technology, XW Communication, Kema Technology, and Zhongtung High-Tech [3][4]

铁 业 资金流入比率方面，格林美、大地熊、华宏科技等流入比率居前，主力资金净流入率分别为19.46%、 8.60%、7.17%。（数据宝） 金属钴概念资金流入榜 | 代码 | 简称 | 今日涨跌幅 | 今日换手率 | 主力资金流量（万 | 主力资金净流入比率 | | --- | --- | --- | --- | --- | --- | | | | （%） | （%） | 元） | （%） | | 002340 | 格林美 | 7.99 | 14.93 | 139041.57 | 19.46 | | 000657 | 中钨高 新 | 7.67 | 7.88 | 22813.13 | 6.46 | | 002009 | 天奇股 份 | 3.92 | 30.48 | 7167.36 | 3.01 | | 300073 | 当升科 技 | 0.71 | 3.69 | 6960.10 | 6.10 | | 600549 | 厦门钨 业 | 3.53 | 3.79 | 6514.53 | 2.48 | | 002266 | 浙富控 股 | 4.28 | 4.27 | 6022.42 | 6.55 | | 601390 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002842 | 翔鹭钨业 | 16.53 | 9.98% | 37.99万 | 6.07亿 | | 000657 | 中钨高新 | 32.00 | 7.67% | 113.78万 | 35.34亿 | | 600259 | 中稀有色 | 62.33 | 7.08% | 37.10万 | 23.09亿 | | 002378 | 章源钨业 | 15.97 | 6.47% | 108.07万 | 16.90亿 | | 000831 | 中国稀土 | 51.43 | 5.15% | 93.00万 | 47.57 Z | | 600111 | 北方稀土 | 50.50 | 4.88% | 271.33万 | 135.36亿 | | 002428 | 云南错业 | 33.10 | 3.63% | 85.30万 | 27.94亿 | | 600549 | 厦门钨业 | 44.85 | 3.53% | 58.97万 | 26.22亿 | | 000960 | 锡 ...

从资金流向上来看，当日小金属板块主力资金净流入24.99亿元，游资资金净流出7.53亿元，散户资金净 流出17.45亿元。小金属板块个股资金流向见下表： 证券之星消息，1月6日小金属板块较上一交易日上涨4.31%，浩通科技领涨。当日上证指数报收于 4083.67，上涨1.5%。深证成指报收于14022.55，上涨1.4%。小金属板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 301026 | 浩道科技 | 32.50 | 12.03% | 20.88万 | | 6.66 Z | | 000960 | 锡业股份 | 31.11 | 10.01% | 67.24万 | | 20.43亿 | | 002978 | 安宁股份 | 36.17 | 10.01% | 19.52万 | | 6.87亿 | | 600459 | 贵研铂业 | 21.12 | 10.00% | 69.41万 | | 14.38亿 | | 002182 | 宝武镁V | 16.95 | 9.0 ...

贵研铂业涨停，洛阳钼业、紫金矿业双双创出历史新高，锡业股份、华锡有色、云南锗业、中钨高新跟 涨。 (本文来自第一财经) 贵研铂业涨停，洛阳钼业、紫金矿业双双创出历史新高，锡业股份、华锡有色、云南锗业、中钨高新跟 涨。 (本文来自第一财经) ...

Group 1 - The A-share market showed mixed performance on January 6, with the Shanghai Composite Index rising by 0.86%, while sectors such as precious metals, insurance, and basic metals performed well, while communication equipment and forestry sectors faced declines [1] - The machine tool sector exhibited divergence, with the machine tool ETF (159663) increasing by 0.19%. Notable individual stocks included Tungsten High-Tech rising by 4.63%, Greentech Harmony by 3.88%, Xiamen Tungsten by 3.10%, Haimeixing by 2.98%, and Xinjie Electric by 2.13% [1] Group 2 - According to the China Machine Tool Industry Association, the machine tool industry in China achieved a cumulative operating revenue of 942.1 billion yuan from January to November 2025, reflecting a year-on-year growth of 1.3%. Within this sector, the revenue from metal cutting machine tools grew by 10.5% year-on-year [3] - Jianghai Securities indicated that multiple factors, including steady domestic economic recovery, ongoing stimulus policies such as trade-in programs, accelerated development of emerging industries, and stable demand from overseas markets, will continue to release downstream market demand, thereby enhancing companies' willingness to invest in equipment [3] - The machine tool ETF (159663) closely tracks the CSI Machine Tool Index, which encompasses a critical segment of China's manufacturing industry—high-end equipment manufacturing, including laser equipment, machine tools, robots, and industrial control equipment. This sector is central to the implementation of innovation-driven and industrial upgrading practices [3]

Group 1 - The core viewpoint of the news is that Zhongtung High-tech has seen a significant increase in its stock price, rising by 5.37% to reach 30.03 yuan per share, with a trading volume of 1.301 billion yuan and a turnover rate of 3.08%, resulting in a total market capitalization of 68.426 billion yuan [1] - Zhongtung High-tech is primarily engaged in the research, development, production, sales, and trade of hard alloys and rare metals such as tungsten, molybdenum, tantalum, and niobium, with its main business revenue composition being: 34.74% from ore and powder products, 23.13% from other hard alloys, 21.68% from cutting tools, 16.23% from refractory metals, and 4.22% from trade and equipment [1] Group 2 - From the perspective of fund holdings, one fund under AVIC Fund has a significant position in Zhongtung High-tech, with the AVIC Mixed Reform Selected A Fund holding 134,700 shares, accounting for 9.34% of the fund's net value, making it the fifth-largest holding [2] - The AVIC Mixed Reform Selected A Fund has a total scale of 4.8472 million yuan, with a year-to-date return of 2.33% and a one-year return of 24.53%, ranking 2890 out of 8816 and 4611 out of 8081 in its category, respectively [2] - The fund manager, Fang Cen, has been in position for 2 years and 284 days, with the fund's total assets amounting to 26.8561 million yuan, achieving a best return of 0.28% and a worst return of -19.46% during his tenure [2]